The venture will throw open employment opportunities to the localites in a substantial way.
The Special Economic Zone Policy, announced by Government of India enables the creation of SEZs in the country, with a view to provide an internationally competitive and hassle-free environment for exports. These zones are designated duty-free enclaves and are deemed foreign territories for the purpose of trade operations, duties and tariffs. The Policy offers several fiscal and regulatory incentives to developers of the SEZ as well as units within these zones.
The Indian market for glass and glazing industry is currently valued at US$ 450 million. It is poised for a steady growth of 10% in the next five years or so, due to the increased activities on the infrastructure front and the construction boom. The float glass, container glass, glass fibre and glass tableware are manufactured by about 100 large scale companies which operate with modern and large scale melting furnace technologies. They are mostly located in Gujarat, Bombay, Calcutta, Bangalore and Hyderabad. The industry, on the other hand, is also represented in the country by more than 600 medium and small-scale enterprises and cottage industry units. Glaverbel of Belgium, DM Wall System Co Ltd of Korea, Asahi of Japan and Saint Gobain of France have their presence in India.